/ Press Release

Impact at USC’s Price School of Social Innovation Annual Summit

USC’s Price School of Social Innovation’s Annual Summit Sponsored by Eddie and Jane Lorin https://www.uscsocialinnovationsummit.com

Eddie and Jane Lorin sponsored USC’s Price School of Social Innovation’s Annual Summit held Friday, April 27, 2018. Over 150 people in attendance included city agencies and key stakeholders in Los Angeles  covering non-profits providing services, Foundations, Donors, Developers and Educators. The agenda included panels titled “Housing the Workforce,” “Innovations to Increase the Affordable Housing Stock” and “Innovations to House the Homeless.”

The attendees broke into 15 groups in a workshop format to brainstorm solutions given 3 case studies. The format of the summit promoted great collaboration and a positive experience was enjoyed by all.

At the all day event, Lorin announced the first “NOAH” project (Naturally Occurring Affordable Housing) in conjunction with the City of Los Angeles which will take an existing 1920s apartment building in the East Hollywood district of Los Angeles and deem 50% of the property affordable in exchange for a property tax abatement.

These affordable units are anticipated to be reserved for supportive housing for the homeless with services and social work provided by the 20 year old non profit People Concern http://www.thepeopleconcern.org,  Health and Wellness programming on site at the property will be provided by the non-profit HAPI (Healthy Apartment Property Initiative founded in 2013 by the Lorins) which focuses on food insecurity and education https://www.hapiapts.org.

NOAH is an innovative concept Lorin proposed to the Los Angeles Housing + Community Investment Department (HCIDLA) in 2016 in order to pilot a Public/Private Impact Investment to provide another unique solution to the housing crisis.

By purchasing existing assets and deeming them affordable, the NIMBY (not in my backyard) deterrent to new development is eliminated along with the purchase of existing older properties costs as low as 40% of the replacement cost to build new. Lorin says he is pleased to be the first to launch this concept because “it just makes common sense.” Housing can be relatively immediate versus the 3 years it takes to build new.

 

Jane and Eddie Lorin are relentless in their pursuit to create new innovations to solve the housing crisis like NOAH. They have also sponsored the “Jane and Eddie Lorin Fellowship for innovative low income housing solutions” at USC’s Price School. The Fellowship will promote a competition for the most creative and inventive ideas for affordable housing.

New Socially Focused Impact Housing REIT to Acquire Maryland Apartment Community

Investors Can Own a Piece of This Property and Future Properties Through the Impact Housing REIT Offering; To Learn More About This Investment Opportunity, Register for a Live CrowdStreet Webinar Here

LOS ANGELES, CA / March 8, 2018 / ImpactHousing.com is a new social impact Real Estate Investment Trust (REIT) on a mission to purchase and transform old, neglected and/or mismanaged apartment communities nationwide while keeping them affordable for low and middle-income residents. The REIT is set to acquire its first multifamily apartment community, a twelve-story, 143-unit high rise located in Southern Maryland, just outside Washington D.C., alongside a group of sophisticated real estate investors who have already committed over $5.5 million to the project. Currently, at 96% occupancy, this apartment community is categorized as a “Naturally Occurring Affordable Housing” (NOAH) asset, which means it’s affordable for those with incomes at or less than 80% of Area Median Income (AMI).

Under the direction of Impact Housing REIT’s Founder, Eddie Lorin, an Affordable Housing Preservationist, the Company plans to keep it that way – affordable for hard-working individuals and families, while delivering positive financial, social and environmental (“Triple Bottom Line”) returns to investors through low cost, high value aesthetic and eco-friendly interior and exterior improvements, and free onsite after-school activities, fitness classes, health and wellness programming through its non-profit partner, the Healthy Apartment Property Initiative (HAPI) Foundation.

For a brief video overview of the Southern Maryland investment opportunity, click here. To read about it in more detail on the Company’s website, click here.

“Not only is this asset a ‘diamond in the rough’ socially responsible investment (SRI) that has the potential for the same great financial returns we’ve achieved in past for institutional and private investors, but also it helps solve a real problem in our country. The lack of quality housing that’s affordable is a real problem that affects all facets of our society,” commented Eddie Lorin, Founder of Impact Housing REIT and its Sponsor Strategic Realty Holdings LLC.

Lorin added, “We’re doing our part by deeming this first investment in Maryland – just outside our nation’s capital – affordable, and by allowing anyone and everyone to invest alongside us. To make sure everyone has an opportunity to invest, not just the wealthy, we’ve reduced the minimum investment to $1,000 for this project. We welcome investors across the globe to co-invest with us in what we believe will be the first of many impact-driven socially responsible investments in the workforce housing multifamily sector.”

Management will be hosting a live online Update Webinar Friday, March 16th, from 1:00 PM – 2:00 PM EST / 10:00 AM – 11:00 AM PST to discuss the project, the investment opportunity and the roadmap for 2018 before opening the event to Q&A. Current and potential Impact Housing REIT and CrowdStreet investors are welcome to attend for free. To register for the event, click here.

Impact Housing REIT’s Sponsor, Strategic Realty Holdings, has an impressive track record. Over the past 9 years, their team acquired 72 multifamily properties similar to Southern Maryland. Of those properties, 40 have completed their full investment cycle from acquisition to renovation to lease-up to sale, and on average, achieved:

  • 48% increase in Net Income
  • Annual cash on cash returns of 8.55%
  • Annual Internal Rates of returns averaging 24.77%

Note: Past performance does not guarantee future results. This property may or may not ultimately close escrow subject to due diligence and other various factors. Impact Housing REIT cannot guarantee that this specific property will end up being one of the multiple assets owned by the fund.

With a lower minimum investment, Impact Housing REIT has made it possible for any person, foundation, corporation, family office, a fund that’s committed to socially responsible investing – to earn real returns that help solve real problems. See more on how to invest, click here. If you would like to join our effort and invest alongside us in what we expect will be the first of many impact-driven multifamily investments, please visit ImpactHousing.com or email us at invest@ImpactHousing.com.

About Impact Housing REIT, LLC

Impact Housing REIT, LLC is a company founded by Edward (“Eddie”) P. Lorin, a 30-year multifamily real estate veteran, focusing primarily on value-add and/or under-performing multifamily properties nationwide. Since 2001, the Impact Housing management team has participated, as Principal or Advisor, in the purchase and transformation of more than $3 Billion worth of multifamily real estate amounting to more than 180 communities with approximately 40,000 apartment units nationwide. For more information on Impact Housing REIT, visit: ImpactHousing.com, watch our video, like us on Facebook, follow us on LinkedIn and Twitter at @theGOODREIT

Read more: http://www.digitaljournal.com/pr/3688814#ixzz59XzZekBH

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Impact Housing REIT, LLC.
$1,000
Minimum
Quarterly
Dividend
A reservation is not an investment. A reservation is non-binding and you will need to confirm your reservation when Impact Housing REIT, LLC offering is live to invest. By making a reservation, you are requesting an allocation in Impact Housing REIT's upcoming offering. A copy of the Preliminary Offering Circular may be obtained here. A reservation is non-binding and you may change the amount at any time. Reservations may be accepted in whole, or in part, or not at all by Impact Housing REIT. If granted, you will be asked to confirm your investment once Impact Housing REIT's offering has been qualified by applicable authorities and the fundraise has officially begun.
Disclaimer
Impact Housing REIT, LLC will invest in multifamily properties, income-producing real estate, a market that may produce returns that are different than the returns an investor could expect from other markets, including the stock market. Before our Sponsor receives anything, investors are entitled to a 7% annual return on their investment. Note: There is no guaranty that investors will receive any return on their investment, or get their capital back. In the last 5 years, the Sponsor has completed 28 projects (totaling 40 multifamily properties) which have achieved an average annual cash on cash return of 8.55% and an average project IRR of 24.74%. For more information about the Sponsor’s track record, see the Offering Circular, here. However, Impact Housing REIT, LLC is itself a newly formed company with no historical data of returns, and there is no assurance that it will achieve comparable success. The results that the Sponsor has achieved in the past do not guaranty that it will achieve similar results in the future. Like any investment, there is the potential to lose some or all of your investment. The ability to make distributions will depend on the availability of cash flow each quarter. There is no guarantee that we will be able to make a distribution in any given quarter. For a list of the most significant risks, click here.
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Under Contract: Maryland
* Highrise with spectacular views
* Twelve Floors, 143 Units
* Built in 1969
* Strong 96% Occupancy
* Naturally Occurring Affordable Housing
* RUBS / Water Conservation Potential
* Purchase Price: $7m to $8m
*Note that this property may or may not ultimately close escrow subject to due diligence and other various factors. Impact Housing REIT cannot guarantee that this specific property will end up being one of the multiple assets owned by the fund.
Target: Colorado Springs
* Mountain views
* Near commercial district
* 64 Units
* Built in 1967
* New roofs recently installed
* Units currently renting below market
* Purchase Price: $5m to $6m
*Note that this property may or may not ultimately close escrow subject to due diligence and other various factors. Impact Housing REIT cannot guarantee that this specific property will end up being one of the multiple assets owned by the fund.
Target: Mesquite, Texas
* Strong submarket: 96% Occupancy
* Located in suburb just outside of Dallas
* Multifamily, 190 Units
* Built in 1959 -1972
* New roofs recently installed
* Renting at 25% - 50% below market
* Purchase Price: $8m to $9m
*Note that this property may or may not ultimately close escrow subject to due diligence and other various factors. Impact Housing REIT cannot guarantee that this specific property will end up being one of the multiple assets owned by the fund.
Disclaimer
Impact Housing REIT investments are expected to be spread throughout the United States. The Manager expects Impact Housing REIT’s investment portfolio to consist of direct equity interests in individual properties. The Manager will generally target equity investments ranging from approximately $3 million to $10 million. Note that these properties may or may not ultimately close escrow subject to due diligence and other various factors. Impact Housing REIT cannot guarantee that these specific properties will end up being one of the multiple assets owned by the fund or that investors will receive any return on their investment, or get their capital back. In the last 5 years, the Sponsor has completed 28 projects (totaling 40 multifamily properties) which have achieved an average annual cash on cash return of 8.55% and an average project IRR of 24.74%. Past performance cannot guaranty future results. For information on our Sponsor’s track record, see the Offering Circular, here.